{"id":26256,"date":"2023-01-17T10:45:08","date_gmt":"2023-01-17T05:15:08","guid":{"rendered":"https:\/\/www.fundsindia.com\/blog\/?p=26256"},"modified":"2023-01-17T10:51:29","modified_gmt":"2023-01-17T05:21:29","slug":"alpha-pi-industries-limited-equity-research-desk","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/alpha-pi-industries-limited-equity-research-desk\/26256","title":{"rendered":"Alpha | PI Industries Limited \u2013 Equity Research Desk"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/FI_Alpha-PIIndustriesLimited.pdf\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"983\" height=\"467\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/170123.png\" alt=\"\" class=\"wp-image-26257\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/170123.png 983w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/170123-300x143.png 300w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/170123-768x365.png 768w\" sizes=\"(max-width: 983px) 100vw, 983px\" \/><\/a><\/figure>\n\n\n\n<h3>PI Industries Limited \u2013 Superior Business Model<\/h3>\n\n\n\n<p>PI was set up in 1946 as an edible oil refinery by the late Mr. P P Singhal. The company later entered the agrochemical formulations business. In the mid-1990s, PI diversified into CSM exports for global agrochemical innovator companies. PI currently operates in the domestic agricultural inputs and CSM export segments. <\/p>\n\n\n\n<p>It is a leading player in the domestic agricultural inputs sector, primarily dealing in agrochemicals and plant nutrients. In the CSM exports segment, its business interests include dealing in custom synthesis and contract manufacturing of chemicals, which constitutes techno-commercial evaluation of chemical processes, process development, lab and pilot scale-up, as well as commercial production. <\/p>\n\n\n\n<h3><strong>Valuation:<\/strong><\/h3>\n\n\n\n<p>We believe PIIND is well-placed for future growth given clear revenue visibility in the CSM segment and strong domestic formulation business. The company is also strategically developing its capabilities which are translating into improved asset turns and higher growth in the top line. Hence, we recommend a BUY rating in the stock with a target price (TP) of Rs.3850, 55x FY22E EPS.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/FI_Alpha-PIIndustriesLimited.pdf\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"531\" height=\"66\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_click-here-for-the-research-report-1.png\" alt=\"\" class=\"wp-image-25302\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_click-here-for-the-research-report-1.png 531w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_click-here-for-the-research-report-1-300x37.png 300w\" sizes=\"(max-width: 531px) 100vw, 531px\" \/><\/a><\/figure><\/div>\n\n\n\n<p>If you are new to FundsIndia, open your FREE investment account with us and enjoy lifelong research-backed investment guidance.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fundsindia.com\/registration\/signup\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"406\" height=\"66\" src=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1.png\" alt=\"\" class=\"wp-image-25306\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1.png 406w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1-300x49.png 300w\" sizes=\"(max-width: 406px) 100vw, 406px\" \/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PI Industries Limited \u2013 Superior Business Model PI was set up in 1946 as an edible oil refinery by the late Mr. P P Singhal. The company later entered the agrochemical formulations business. In the mid-1990s, PI diversified into CSM exports for global agrochemical innovator companies. PI currently operates in the domestic agricultural inputs and [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":26257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[743,59],"tags":[744,200,746,517,745,289,518,871,44,272,872,870],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alpha | PI Industries Limited \u2013 Equity Research Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/alpha-pi-industries-limited-equity-research-desk\/26256\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alpha | PI Industries Limited \u2013 Equity Research Desk\" \/>\n<meta property=\"og:description\" content=\"PI Industries Limited \u2013 Superior Business Model PI was set up in 1946 as an edible oil refinery by the late Mr. P P Singhal. The company later entered the agrochemical formulations business. In the mid-1990s, PI diversified into CSM exports for global agrochemical innovator companies. PI currently operates in the domestic agricultural inputs and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fundsindia.com\/blog\/equities\/alpha-pi-industries-limited-equity-research-desk\/26256\" \/>\n<meta property=\"og:site_name\" content=\"Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundsindia\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-17T05:15:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-17T05:21:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2023\/01\/170123.png\" \/>\n\t<meta property=\"og:image:width\" content=\"983\" \/>\n\t<meta property=\"og:image:height\" content=\"467\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Equities Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" 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